$108 Million Income = NO State Taxes

This post originally appeared at Speak Out California
Michael Hiltzik in the LA Times today,

To everyone who claims that our wealthiest citizens pay more than their fair share of income taxes and we should cut them a break because they’re the ones who, you know, create jobs in our economy, I have four words for you:
Frank and Jamie McCourt.
The McCourts, who own the Los Angeles Dodgers (so she says; he says he’s the owner and she’s not), jointly pocketed income totaling $108 million from 2004 through 2009, according to documents Jamie McCourt recently filed in the couple’s divorce case in Los Angeles County Superior Court.
On that sum, they paid zero federal and state income tax. Jamie suggests that some tax breaks will apply this year too.

The McCourts have eight houses.  Eight.  Houses.
California is laying off teachers, closing parks, etc. — killing the state — just to protect the wealthiest and biggest corporations from paying their fair share of taxes.  Millions of dollars in corporate contributions pay for the nasty smear campaigns — and all the lies about how the wealthy are “hurt” by taxes and will “leave the state” — all to protect THIS!
California needs to take a cold, hard look at the game-playing and the holes in our tax system that allow the rich to get away with paying less taxes than “the help” while at the same time we’re telling teachers we can’t afford to keep them teaching our kids.
And please, let’s stop all this nonsense about “they’ll just leave the state” if we try to make the wealthy and big corporations pay their fair share.
Click through to Speak Out California

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